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Aravindan

Kottayam, Nov. 7 Physical rubber prices declined on Friday. RSS 3 moved down to Rs 85 from Rs 86.50 a kg as certain small traders preferred to dispose of their stocks fearing further fall in prices. Major manufacturers were buyers on sheet rubber at the quoted level. The market fell mainly on buyer resistance amidst moderate selling from dealers and growers. The volumes were better.

Rubber futures on the Tokyo Commodity Exchange regained strength on Friday afternoon, wiping out the morning losses. The futures opened sharply lower following broad declines in oil and precious metals futures. Sentiments were green in the afternoon, sending many contracts to the positive zone on short covering. RSS 3 (spot) moved down further to Rs 87.07 (89.42) a kg at Bangkok.

In futures, the grade improved at its November contract to ¥168.9 (Rs 82.80) from ¥165.8, December to ¥171.4 (167.3), January to ¥175.8 (171.6) February to ¥178.1 (174.8), March to ¥181.2 (176.6) and April to ¥183.9 (178.9) a kg on TOCOM.

Spot rates were (Rs/kg): RSS-4: 85 (86.50); RSS-5: 83 (85); ungraded: 80 (81.50); ISNR 20: 81.50 (84) and latex 60 per cent: 58.50 (59.50).

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